Answered: You open a bank account, making a…

You open a bank account, making a deposit of $200 now and deposits of $200 every other year. What is the total balance at the end of 10 years from now if your deposits earn 10% per year.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

You open a bank account, making a
deposit of $200 now and deposits of
$200 every other year. What is the
total balance at the end of 10 years
from now if your deposits earn 10%
per year.
Select one:
a. 3912.3
b. 3156.7
C. 3706.2
d. 3329.1
e. 3512.1

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